Slideshow image
Mfg. of Water well Drilling Rigs, Dth Hammers and Button Bits...
Water Well Drilling Rigs, Dth Drilling Rigs, Rotary Drilling Rigs...
Blast hole Drills, Water Well Drilling Rig, Mud Pumps, Vertical Turbine Pumps...
klrsai deepagetechjcr

GenNx360 takes over Schramm


US-headquartered GenNx360 Capital Partners has purchased mobile land-based drilling rig provider Schramm.

“Schramm is a leader in drilling technology serving growing niches within the drilling equipment industry,” Drew Shea, managing partner at GenNx360, commented.

“GenNx360’s resources, Schramm’s business model and the company’s talented management team will create a powerful combination.”

“We are excited to partner with GenNx360, whose principals have many years of success building industrial businesses such as ours,” Edward Breiner, Schramm’s chief executive officer, said.

“The operational and leadership experience of the firm will strengthen Schramm and expand our reach even further.”

Schramm specialises in mobile, top-head hydraulic rotary drilling rigs for companies in the energy, mining, geothermal, water well and mine rescue sectors worldwide.

Schramm’s global reach includes major market positions in Australia, Canada, Chile, China, Russia and South Africa. In 2010, a Schramm rig called The Miracle completed the escape hole through which 33 Chilean miners were saved after being trapped underground in a collapsed mine.

Schramm’s products, for drilling activities to depths of 15,000ft (4,572m), are designed to make the drilling process safer, faster, and more efficient for its customers and end users. They are sold globally under several registered trade names such as Schramm, Telemast, Loadsafe, i-Control and air-Control.

GenNx360 Capital Partners focuses on identifying and developing opportunities in the oil and gas services, global transportation components, agriculture products and services, specialty chemicals and engineered materials, industrial machinery and component parts, logistics and aerospace sectors.

Courtesy GeoDrilling

Drilling Today Contact